Business groups issue succession planning guide
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The SME ombudsman has released a new online guide to succession planning, which includes tips on how to handle family conversations during the transition phase.
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and Family Business Australia (FBA) have released an online guide to business succession planning.
The
Introductory Guide to Family Business Succession Planning – which has been co-produced by FBA and the ASBFEO office, provides a step-by-step guide to passing the family business on to the next generation, the ombudsman and FBA said.
According to the groups, the guide has come after the latest available data from KPMG on the subject showed that just 17 per cent of Australian family businesses have a unifying plan for the business’s future.